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  US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting. Market Performance Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624. S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%. Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase. Key Drivers The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week. Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher. Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, a...
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CN Rail and CPKC Lock Out Workers Amid Labor Talks Deadlock

 


Canadian National Railway (CN) and Canadian Pacific Kansas City (CPKC) have taken the drastic step of locking out workers, effectively shutting down Canada’s extensive freight rail network. The move comes after unsuccessful negotiations with the major labor union, Teamsters Canada. These negotiations have been ongoing since the expiration of contracts in December 2023.

The lockout has halted the movement of critical commodities such as grain, potash, and coal across the country. Here’s a timeline of the events leading up to this labor impasse:

  • December 31: Contracts covering locomotive engineers, conductors, and yard workers at CN and CPKC expire.
  • May 10: The Canadian government intervenes to delay a possible strike by railway workers.
  • May 23: Talks hit a deadlock, with predictions that a legal strike or lockout would not likely occur before mid-July.
  • August 22: CN and CPKC shut down their rail networks, affecting nearly 10,000 workers.

This unprecedented action underscores the severity of the labor dispute and its impact on Canada’s transportation infrastructure. As negotiations remain deadlocked, the ripple effects on the economy and supply chains are likely to be significant.

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